Colombia will launch a copper auction in May to reduce imports and meet local demand. Announced by Alvaro Pardo, this initiative aims to enhance domestic production of copper, particularly for green energy projects. The auction will include 17 blocks for exploration and production in several departments, addressing rising theft and demand issues.
Colombia’s government is set to launch an auction in May for copper mining projects aimed at reducing reliance on imports and meeting local demand for this essential industrial metal. Alvaro Pardo, president of the National Mining Agency, announced this initiative during a business event in Cartagena, emphasizing the need to enhance copper production in the country.
Notably, Colombia produces various commodities like oil and coal, but it significantly trails behind regional leaders Chile and Peru in copper output. The planned auction will feature 17 exploration and production blocks situated in the Antioquia, Cesar, and La Guajira departments, which are expected to contribute to increased copper availability.
Pardo highlighted the rising demand for copper, particularly for green energy projects, and pointed out that the local theft of copper telephone cables further amplifies the need for more copper production. He stated that the goal is to substitute imports, combat copper theft, and sufficiently supply Colombian industries, particularly those involved in energy transition initiatives.
In the previous year, there was a remarkable interest in mining activities, with companies submitting 293 applications for permits to mine copper, gold, and other minerals. This number surpassed applications for coal projects, indicating a significant shift towards strategic minerals like copper.
Furthermore, Pardo indicated that the results of a feasibility study for establishing a steel mill in Colombia would be disclosed between March and April, although he did not specify the company responsible for the study.
Colombia is embarking on an auction for copper mining projects intended to curb imports and support local industrial needs. Led by Alvaro Pardo, this initiative aims to increase copper supply for green energy and combat local theft issues. With rising applications for mining permits, this move reflects a strategic emphasis on enhancing the country’s mineral output, particularly in comparison to its regional counterparts, Chile and Peru.
Original Source: www.mining.com
